Former Amaya Chief Sells More Shares In The Company (Update)

By Brian Cullingworth, Last updated Apr 7, 2017

Baazov divests 12 million shares at Cdn$22.31 each

Following his announcement Thursday that he had just sold off a further 12 million shares in online gambling group Amaya, the company’s former CEO and founder David Baazov is wealthier to the tune of Cdn$ 267.7 million, letting the shares go at an average price of Cdn$ 267.7 million.

Baazov, who stepped down last year to fight charges related to insider trading, divested himself of 7 million Amaya shares in early March for Cdn$ 133 million (see previous InfoPowa reports).

The latest sell-off brings Baazov’s stake in Amaya to just under 4 percent (he still has 5.6 million shares in the company) and means he is no longer the major shareholder.

Baazov, who has denied any wrongdoing in the insider trading case, is scheduled to appear in a Montreal court later this year, and has in the meantime reportedly founded and chairs an investment firm titled Ahaka Capital. Its investments to date represent no direct involvement in online gambling.

He appears to have given up on controversial earlier attempts to take over Amaya.

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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